About reallygraceful: To better understand the present, we must examine the past. This channel is dedicated to connecting the two, providing context and asking questions along the way. There is no partisan agenda, strictly just the pursuit of information and answers. These videos are highly sourced, with the sources always pinned as the top comment. When You Weren’t Looking, Billionaires Did THIS… | reallygraceful https://www.youtube.com/watch?v=C_DC0… reallygraceful https://www.youtube.com/reallygraceful
Watch Key in the Newshub video (link in article below) gesticulating with his hands, bumbling along, trying to describe a package that might just possibly garner a few votes from the folks who have effectively wiped him now. It will make you nauseous I warn you. He is moving craftily from ‘let them eat cake’ to rations of sugary election sweets, which we all know won’t last beyond election day.
This is a man, a former banker, who has basically raped and pillaged our nation since he was elected, selling off our assets with little accountability, unloading our state housing stock that just happens to sit on prime real estate … while heartlessly ignoring the 41,000 plus who are homeless, promising lollies here for the poor … having ignored growing child poverty in his midst, taxing himself 2.8% and the real workers 28%, and telling us he has a family package that will aim to … get this …
“deliver fairness to everybody, and a bit more at the lower income level”
This is breathtaking arrogance. Having quickly forgotten he grew up in a state house himself, he is totally ignorant of the true state of the nation under his watch. Unbelievably, he thinks he can just front up with a little lolly scramble to titillate the voters. For a reminder of what has happened under his watch listen to Green Party’s Gareth Hughes earlier this year delivering an apt and succinct overview…
Prime Minister, I’ve sat and listened to all your speeches opening Parliament and I’d like to congratulate you on delivering your 8th speech.
It’s a real accomplishment and you must be now thinking how history will remember you.
Just outside of this debating chamber are the portraits of our great leaders.
From Seddon, to Savage and Fraser to Kirk how do these giants who established universal suffrage, a caring state in the midst of a depression and world war and a modern independent, bicultural New Zealand compare with you?
Is the flag it?
Your desperate, lumbering, grasping attempt at building a legacy with a flag won’t mask the realities.
Hungry kids up
Housing costs up
Electricity costs up
Foreign ownership up
Corruption up …”
Simply cutting tax rates or lifting the thresholds at which higher rates kick in wouldn’t be “fair to everybody”.
“If you lower the bottom rate, you give it to everybody at the top and it costs a fortune,” he explained.
“Whereas you might be able to do some integrated family package… which delivers fairness to everybody but a bit more meaningful at the lower-income end.”
But changes to income tax brackets haven’t been ruled out. Presently, the top rate of 33 cents in the dollar kicks in at $70,000. As incomes rise, more people find themselves earning enough to start paying the top tax rate.
“People are getting bumped into the top personal rate without doing too much,” says Mr Key.
Asked if beefing up the accommodation supplement was on the cards, particularly in areas where rents have risen sharply, Mr Key said: “That may well be right.”
He hasn’t yet decided whether any changes would come in Budget 2017 or used to woo voters in next year’s election campaign.
For more insights into John Key’s banking past and the various anomalies we see under his watch go to ‘categories’ (left of any page) for further articles… see ‘banking’ in particular. Or use the search box.
A corporation has been defined as “… a business structure whose sole reason for existence is the earning of profits by manufacturing products for as little as possible and selling them for as much as possible. It does not matter whether the product does good or evil; what counts is that it be consumed – in ever-increasing quantities”.
(Note: therein lies the root of our whole recycling problem … think of all the packaging that goes with those products … plastic wrapping, meat trays, polystyrene and plastic bottles just for starters).
Giant multinational corporations have become society’s most dominant institution. As a student of social policy in the early 1980s I well recall being told there would come a day when corporations would control governments … difficult at the time to conceive of … nevertheless this is exactly what has happened. It was difficult to conceive because it was an era when unemployment was low, benefits for the few who required them were at a livable level and education was relatively free. We were a welfare state. That has changed for we were sharply reminded we were a capitalist welfare state.
John Key’s legacy spelled out in scathing terms by Green Party MP Gareth Hughes on February 11th this year (2016). “Hungry kids … up, inequality … up, pollution … up, electricity costs … up, housing costs … up, foreign ownership … up, debt … up, corruption … up … “. His legacy if you like, epitomizes everything Agenda 21 is about.
An enlightening three minute clip from the Positive Money YT channel on why we have inequality. It’s a mythical illusion that all can succeed under capitalism and a short review of the literature on that, looking beyond all the spin, will prove it. The documentation of the proponents of this monetary system tell us quite clearly that scarcity and the inability for all to succeed is what’s required for it to run successfully… for those at the top of the pyramid that is.
1. The current money system distributes money from the bottom 90% to the top 10%
Because 97% of the money in the UK is created by banks, someone must pay interest on nearly every pound in the circulation. This interest redistributes money from the bottom 90% of the population to the very top 10%. The bottom 90% of the UK pays more interest to banks that they ever receive from them, which results in a redistribution of income from the bottom 90% of the population to the top 10%. Collectively we pay £165m every day in interest on personal loans alone (not including mortgages), and a total of £213bn a year in interest on all our debts.
2. It transfers money from the real economy to the banks
Businesses are also in a similar situation. The ‘real’ (non-financial), productive economy needs money to function, but because all money is created as debt, that sector also has to pay interest to the banks in order to function. This means that the real-economy businesses – shops, offices, factories etc — end up subsidising the banking sector.
3. It transfers money from the rest of the UK to the City of London
Banks pay their staff out of their profits, which in large part comes from the interest they charge on loans. Because most of the high earning bank staff work in the City of London, this results in a geographic transfer of wealth from the UK to those working in the City of London.
4. The instability that the system causes means that temporary and low-paid jobs are insecure
When banks cause a financial crisis it leads to unemployment. It tends to be low-paid and temporary contract workers who are the first to get made redundant first, so that instability in the economy has a bigger effect on those on low incomes with insecure jobs.
5. High house prices increase inequality
When house prices are pushed up by banks creating money, those on low incomes suffer the most. People on low incomes often can’t get a mortgage big enough to buy a house, so they don’t benefit from the rise in house prices. Meanwhile, those who can get access to mortgages can buy multiple houses for buy-to-let and benefit from artificial inflation in house prices. Younger people also lose out, as the cost of buying their first house swallows an ever larger amount of their income, while older and retired people who own houses benefit. This all increases inequality across different income groups and between the young and old.
From the Daily Blog in NZ, a thought provoking look at the world of economics where policy fallout on human populations is of no particular importance. Discussing also the incentives (are there any?) for mothers to leave their babies in day care and take up paid employment. Many are apparently worse off for working full time.
Capitalism is not about free competitive choices among people who are reasonably equal in their buying and selling of economic power, it is about concentrating capital, concentrating economic power in very few hands using that power to trash everyone who gets in their way. (David Korten)
Economists after economist pontificated on whether interest rates and exchange rates are going up or down and why and the virtues of quantitative easing that didn’t happen soon enough, apparently, except in the US. Never a mention of fiscal policy, except the bad effects of increase in GST in Japan…
…of course, there was no mention by the economists of high rates of poverty, , casualisation, low pay and uncertain hours, rampant speculative activity in real estate and growing inequality, even though the IMF and the OECD are regularly warning of the dangers…
When the inevitable downturn produces higher unemployment, more foodbank demand, foreclosures and widespread mental illness, who asks or cares whether the economic system works for low and middle income people and their children?”